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H.R. 4277 117th Congress House

Overdraft Protection Act of 2021

Official title: To amend the Truth in Lending Act to establish fair and transparent practices related to the marketing and provision of overdraft coverage programs at financial institutions, and for other purposes.

Introduced: June 30, 2021 See on congress.gov
Finance and Financial Sector Administrative law and regulatory proceduresBank accounts, deposits, capitalBanking and financial institutions regulationCongressional oversight
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This bill died when the 117th Congress ended
It never became law before the 117th Congress (2021–2022) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 4 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 27, 2022
Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 27 - 22.
Jul 27, 2022
Committee Consideration and Mark-up Session Held.
Jun 30, 2021
Referred to the House Committee on Financial Services.
Jun 30, 2021
Introduced in House
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 Latest action July 27, 2022

Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 27 - 22.

 Plain-English summary Congressional Research Service

Overdraft Protection Act of 2021

This bill prohibits a financial institution from engaging in unfair or deceptive acts in connection with overdraft coverage.

Each financial institution that offers overdraft coverage for accounts must disclose overdraft coverage fees. It must also disclose that

  • the consumer's transaction may be declined if there are insufficient funds in the related account, and
  • the consumer will not be charged a fee if such transaction is declined.

A financial institution must provide certain other disclosures regarding its overdraft protection program, including prompt notification of the account's overdraft status.

The bill limits the number of overdraft fees a consumer may be charged each month and year, and provides that such fees must be reasonable.

The bill prohibits an overdraft coverage fee if the overdraft results solely from a debit hold amount that exceeds the actual dollar amount of the transaction.

The bill also prohibits a financial institution from

  • charging a non-sufficient fund fee for any automated teller machine or debit card transaction, or
  • reporting negative information regarding consumer use of overdraft coverage to any consumer reporting agency when the overdraft amounts and coverage fees are paid under the terms of an overdraft coverage program.
 Related & companion bills 1
  • S 2677 Stop Overdraft Profiteering Act of 2021
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 65
All 65 Democratic 43
D
Huffman, Jared
California · Nov 29, 2022
 D
DeSaulnier, Mark
California · Oct 14, 2022
 D
Stansbury, Melanie A.
New Mexico · Oct 14, 2022
Levin, Andy
· Sep 30, 2022
 D
Chu, Judy
California · Sep 29, 2022
 D
Swalwell, Eric
California · Sep 21, 2022
 D
Lofgren, Zoe
California · Jul 15, 2022
 D
Meng, Grace
New York · Jul 14, 2022
 D
Beyer, Donald S.
Virginia · Jul 13, 2022
 D
Jayapal, Pramila
Washington · Jul 7, 2022
 D
Trahan, Lori
Massachusetts · Jun 13, 2022
 D
Barragán, Nanette Diaz
California · Jun 8, 2022
Jackson Lee, Sheila
· Jun 7, 2022
Kuster, Ann
· Jun 7, 2022
Lowenthal, Alan
· Jun 7, 2022
 D
Pressley, Ayanna
Massachusetts · Jun 7, 2022
Speier, Jackie
· Jun 7, 2022
Eshoo, Anna
· May 10, 2022
Lawrence, Brenda
· May 10, 2022
 D
Brown, Shontel M.
Ohio · Apr 6, 2022
 D
Green, Al
Texas · Mar 31, 2022
 D
Meeks, Gregory W.
New York · Mar 30, 2022
Jones, Mondaire
· Feb 22, 2022
Lee, Barbara
· Feb 18, 2022
 D
Omar, Ilhan
Minnesota · Feb 15, 2022
 D
Watson Coleman, Bonnie
New Jersey · Feb 15, 2022
 D
Casten, Sean
Illinois · Feb 4, 2022
 D
Tonko, Paul
New York · Feb 2, 2022
 D
Bonamici, Suzanne
Oregon · Feb 1, 2022
 D
Welch, Peter
Vermont · Dec 14, 2021
 D
Neguse, Joe
Colorado · Nov 30, 2021
DEFAZIO, PETER
· Sep 17, 2021
Napolitano, Grace
· Sep 3, 2021
Blumenauer, Earl
· Jul 27, 2021
 D
Ocasio-Cortez, Alexandria
New York · Jul 27, 2021
 D
Espaillat, Adriano
New York · Jul 1, 2021
 D
Carson, André
Indiana · Jun 30, 2021
Cicilline, David
· Jun 30, 2021
 D
Cohen, Steve
Tennessee · Jun 30, 2021
 D
Davis, Danny K.
Illinois · Jun 30, 2021
 D
Foster, Bill
Illinois · Jun 30, 2021
 D
Garcia, Sylvia R.
Texas · Jun 30, 2021
 D
García, Jesús G. "Chuy"
Illinois · Jun 30, 2021
 D
Grijalva, Raúl M.
Arizona · Jun 30, 2021
 D
Hayes, Jahana
Connecticut · Jun 30, 2021
 D
Khanna, Ro
California · Jun 30, 2021
Lawson, Al
· Jun 30, 2021
 D
Lynch, Stephen F.
Massachusetts · Jun 30, 2021
 D
McGovern, James P.
Massachusetts · Jun 30, 2021
 D
Moore, Gwen
Wisconsin · Jun 30, 2021
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APA
U.S. Congress. (2026). H.R. 4277: Overdraft Protection Act of 2021. 117th Congress. Open America. https://openamerica.io/bill/117-HR-4277/
MLA
"H.R. 4277: Overdraft Protection Act of 2021." 117th Congress, 2026, Open America, https://openamerica.io/bill/117-HR-4277/.
Bluebook (legal)
H.R. 4277, 117th Cong. (2026), https://openamerica.io/bill/117-HR-4277/.
Markdown link
[H.R. 4277: Overdraft Protection Act of 2021](https://openamerica.io/bill/117-HR-4277/)
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